Schumer: Dems Have "Upper Hand" In Deficit Talks

By Philip Bunnell

Sen. Chuck Schumer (D-N.Y.) said Thursday that Democrats now have “the upper hand” in the deficit reduction talks with Republicans. 

“Senator McConnell has walked out on a long limb…by insisting that he will not accept any deal if it includes revenues,” said Schumer during a speech at the Economic Policy Institute in Washington.

Schumer said that there are not enough Republicans in the House who will vote for “a debt limit increase under any circumstances at all,” which he said means that “Speaker Boehner…is going to need Democrats.”

This leverage, Schumer says, will allow Democrats to insist upon their priorities: “no cuts to Medicare beneficiaries, balanced use of cuts and revenue to reduce the deficit, and a focus on jobs.”

The New York Democrat accused Republicans of “bluffing” on their pledge to vote against raising the country’s debt limit unless Democrats agree to take tax increases off the table. GOP lawmakers, Schumer said, are “perfectly willing to cause us to default on our obligations rather than give a single inch in the negotiations.” 

“If the public comes to believe that Republicans are deliberately sabotaging the economy, it will backfire [on them] politically,” he added.